Creating a Bitcoin Bank in Less Than Thirty Minutes With a $2 USB Drive

Creating a Bitcoin Bank in Less Than Thirty Minutes With a $2 USB Drive

Creating an Inexpensive Bitcoin Wallet USB Thumb Drive
Today we’re going to detail how to create a secure bitcoin wallet with an inexpensive USB drive. There are a few different wallets you can download for this particular operation, but for this walkthrough, we will use an Electrum wallet. Other lightweight bitcoin clients used should follow a similar installation process.
The first thing you want to do is download the Electrum wallet to your computer. The software can be used on Mac OS, Windows and Linux systems and takes only a few minutes to download. To maximize security users should add an operating system (OS) to the flash drive. This means creating a bootable USB stick with an OS like the privacy-centric Tails or Ubuntu.
Without adding a bootable OS, wallet data may be stored elsewhere on the computer or be vulnerable to malware if your computer is infected. A bootable drive is a thousand times more secure than a simple offline installation. The next step after downloading the wallet software is to install it directly on the USB drive’s OS offline. It’s not the best idea to use the USB thumb drive for any other online applications, and the drive should be utilized solely as a bitcoin wallet, but of course, that’s optional.

The Fear of a Chain Split Right now over the course of the next 3-4 months, there are many plans for the Bitcoin network. Often times at Bitcoin.com we have discussed this matter in great detail, but people still wonder what will happen to their bitcoin holdings if the blockchain splits. Several potential outcomes can happen with these particular three ideas; The user activated soft fork (UASF) that begins on August 1, Segwit2x which starts around mid-July to October, and the more recent Bitcoin ABC (UAHF) that might deploy in August.
There’s a number of things that could happen with any one of these plans, but the biggest fear is the possibility of a chain split. A chain split is when the blockchain fractures into two chains due to the fact that consensus was not met during an upgrade. That means a particular portion of the Bitcoin network participants disagreed on the plan and chose to ignore the other side’s rules or protocol upgrade. This happened with the Ethereum network, and now there is another blockchain called Ethereum Classic. Now, just because the Bitcoin blockchain splits it doesn’t mean the smaller chain will survive. But the first and foremost thing every bitcoin holder should know if they both survive; If you hold your private keys during a chain split you will be able to retrieve tokens for both chains.

08/08/19

Feecon 2017: Bolstering the Principles of a Free Society and Bitcoin

Feecon 2017: Bolstering the Principles of a Free Society and Bitcoin

On June 15-17 hundreds of liberty focused individuals attended the Foundation for Economic Education’s Feecon 2017 to learn about economics, free markets, and network with like-minded thinkers who are inspired to change the world. Bitcoin.com was a proud sponsor of Feecon and got the chance to teach attendees about the decentralized currency’s attributes while also showing them why we believe Bitcoin is an innovative tool that will push freedom to new levels.

Three Days of Promoting Freedom in Atlanta Georgia

The Foundation for Economic Education (FEE) is a libertarian organization that is focused on bolstering economics and the principles of a free society. This past week FEE held a three-day gathering in Atlanta, Georgia, that saw a broad range of freedom lovers from all around the world. The event was filled with well-known speakers, exhibits, panel discussions, and liberty inspired networking. Feecon 2017 speakers included Patrick Byrne (Overstock.com), Caitlin Long (Symbiont), Magatte Wade (Tiossan), Stephen Pair (Bitpay), Jeffrey Tucker (FEE), and many more.

12/07/19

The Rise of Digital Money Has Exploded Since Bitcoin’s Creation

The Rise of Digital Money Has Exploded Since Bitcoin’s Creation

Bitcoin changed the landscape of digital money when it was introduced to the world in 2009, and was followed by many other types of cryptocurrencies. Now bitcoin and the over 800 copycats (so called altcoins) have reached a very large market valuation of $110 billion. Let’s take a look at how this emerging digital assets landscape began and where we are today.

The Pre-Bitcoin Era and Satoshi’s Gift

Since the beginning of the Internet’s early days, the concept of digital money has always intrigued the human race. When the world wide web really started to become popularized during the late eighties, and throughout the nineties, online privacy activists called cypherpunks began creating and envisioning digital currencies. David Chaum and many other well-known cryptographers helped pave the way for a technology like bitcoin.